Company Registration No. 04376324 (England and Wales)
A & S ROWLANDS (PROPERTIES) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
A & S ROWLANDS (PROPERTIES) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
A & S ROWLANDS (PROPERTIES) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
285,000
285,000
Current assets
Debtors
2,250
3,027
Cash at bank and in hand
2,712
4,332
4,962
7,359
Creditors: amounts falling due within one year
3
(134,870)
(138,220)
Net current liabilities
(129,908)
(130,861)
Total assets less current liabilities
155,092
154,139
Creditors: amounts falling due after more than one year
4
(29,543)
(39,261)
Provisions for liabilities
(39,506)
(39,506)
86,043
75,372
Capital and reserves
Called up share capital
5
4
4
Revaluation reserve
158,023
158,023
Profit and loss account
(71,984)
(82,655)
Shareholders' funds
86,043
75,372
A & S ROWLANDS (PROPERTIES) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2016
31 October 2016
- 2 -
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 July 2017
Mr A L Rowlands
Director
Company Registration No. 04376324
A & S ROWLANDS (PROPERTIES) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services net of VAT.
1.4
Tangible fixed assets and depreciation
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 November 2015 & at 31 October 2016
285,000
At 31 October 2015
285,000
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £9,000 (2015 - £8,000).
A & S ROWLANDS (PROPERTIES) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 4 -
4
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
-
4,281
The aggregate amount of creditors for which security has been given amounted to £29,543 (2015 - £39,161).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
4 Ordinary of £1 each
4
4